International Money Orders/Cashiers Checks

[bubbaba]

I need information on International Money Orders and/or Cashiers Checks. Any and all information is requested. At present I have all of my income sent here to Thailand thru Bangkok Bank NY. Once the money is here it is in baht. However I need to pay some obligations in the USA in dollars. How do I do that? Can I buy money orders or cashiers checks with baht to send to USA that will be paid in dollars?

[nakachalet]

most would have a checking acct in the old country....

can you not write out checks to pay for bills, just wonder.

my recurring payment are all deducted thru checking.... so i won't have to write out any check....

could such arrangement be made with your bank?

i believe any thai bank, preferably bangkok bank, would issue you a cashier check or money order....

for whatever reason.... good luck

Edited June 8, 2010 by nakachalet

[Microwave]

I haven't purchased a bank draft in a few years, but this is how the system used to work. Most banks, especially their large branches in areas frequented by foreigners, will allow you to buy a bank draft. This draft is similar to a cashiers check.

1. Tell the bank clerk the $US sum you want the draft to be for as well as the person/organization receiving this draft (you'll likely have to write down the name for the clerk so as to avoid mistakes when typing the draft).

2. The bank clerk will then let you know the Baht equivalent which you then pay in cash to the clerk.

3. The draft is then typed up in the $US amount with the name of the recipient typed into the draft, and then you're good to go. You probably have to sign the draft too, but I'm not sure anymore.

4. Send the draft in an airmail envelope (send the letter via registered mail) and wrapped in a sheet of ordinary writing paper so as to conceal what's inside the letter.

Usually a bank draft is purchased in the area of the bank at or near where foreign currency is exchanged i.e. not at the main service counters for ordinary Baht deposits/withdrawals. Make sure that you withdraw what you think the approximate Baht equivalent will be before going to buy your bank draft.

Hope this helps.

P.S.: Don't know whether or not you'll need it, but bring your passport just in case it's asked for.

Edited June 9, 2010 by Microwave

[chiang mai]

Bangkok Bank (and presumably some of the other larger Thai banks) sells USD, GBP and EUR cheques which when deposited into an account in the US, UK or Europe will clear in three days (Bangkok Bank has offices in those countries). The cost of buying the cheque is minimal, under Baht 200 and the currency exchange rate, assuming you are paying in Baht, is the same as the TT wire transfer rate, very good in most cases. The only snag with all of this is that you will need to courier the cheque to its destination, in the case of the UK that costs around Baht1,600.

[Pib]

You can buy an international bank draft at Bangkok Bank. Not sure if it's issued in your currency of choice or Baht...you will need to ask Bangkok Bank. See page 15 at below Bank Bangkok web site. It's a link to Bangkok Bank's Expat Banking Services/Booklet...informative 28 page booklet on a variety of banking/money subjects in Thailand. Also included below is a cut and paste from page 15 regarding a international bank draft.

http://www.bangkokbank.com/Bangkok%20Bank%20Thai/Documents/Site%20Documents/Other/bankingGuide_june.pdf

International Bank Draft

An international bank draft is a cost-effective way to send money abroad to friends and family overseas, or

to make overseas purchases. Buy a draft at any Bangkok Bank branch with remittance services and post it to

the recipient of your choice at your convenience. This option takes longer and most drafts will take time to be

cleared before the recipient can take receipt of the funds.

[Pib]

Edit: duplicate to above.

Edited June 9, 2010 by Pib

[aurelius]

Best to SWIFT funds back to a US bank account and make internet instructions from there. Alternatively if you don't have a US account, you can set up international remittances from your BKK Bank internet banking - each transaction will be a SWIFT instruction so there are fees (300bt per transaction I think), but depending on the value it may make sense, and once its set up its less hassle than repeatedly getting drafts or whatever.